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Feel free to continue to the next section and last step if your company does not use a 13 th period.Īs mentioned previously, the closing sheet is used to make adjustments prior to closing your fiscal year close. If you have a 13 th period in which you make adjustments prior to closing your fiscal year, please continue to read this portion about the closing sheet. Putting the period on hold has the same effect of changing the status of closed, so there really is no advantage of closing a period.Īfter you are done with the current fiscal year, switch to your future fiscal year, in our case the year 2016, and change the first couple of periods to open, so you are able to make transactions, and the rest periods to on hold.

To repeat, a period that is closed cannot have its’ status changed back to Open or On hold. Once a period is closed, it cannot be re-opened. It is highly suggested to not put the period to the status of ‘Closed’. This will ensure that no other transactions can be booked for that year. In the fiscal year you are closing, put all periods ‘On hold’. Next, go to the address General Ledger> Setup> Ledger. In the legal entity you are closing, travel to the address General Ledger> Setup> Fiscal Calendars. The first objective is to create a new fiscal year if you haven’t already done so.

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For an example on how to run your monthly inventory close please click here. Also, it is assumed that any necessary consolidations that needed to occur have already been ran (click here for how to run a consolidation). This blog is continuing with the assumption that the company has completed their month-end close for all subsidiary legal entities and their respective modules that are in use.

Luckily, if you are running on Microsoft Dynamics AX 2012, you can get through fiscal year-end close with ease.

It is never too early to start preparing for your company’s fiscal year-end close. Posted on: J| By: Jarrod Kraemer | Microsoft Dynamics AX/365 Fiscal Year End Close in Microsoft Dynamics AX 2012

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